OCBC’s 1.8 million digital customers in Singapore are now able to use SingPass Mobile app as an alternative login to access the full suite of digital banking services.
Managed by the Government Technology Agency (GovTech), the SingPass Mobile app allows users to transact with over 60 government agencies online securely.
To enjoy the feature, customers must download the SingPass Mobile app if they have not already done so. OCBC is the first bank in Singapore to integrate SingPass login into its mobile and internet banking services.
Digital transactions among OCBC Bank customers have surged as the COVID-19 pandemic accelerated digital adoption, the bank said in a press statement.
Close to 100,000 ‘digital debutantes’ have started using digital banking for the first time this year. There was a 40 per cent jump in digital transactions performed by those aged 50 to 64; and those above 64 years old clocked a 48 per cent increase in digital banking transactions from last year.
“Inclusion and accessibility have been core to our digital transformation narrative. I believe that offering SingPass – a trusted and widely used mode of digital authentication in Singapore – as an alternate login, will give more of our customers the confidence and convenience to bank with us digitally," said Aditya Gupta, OCBC Bank’s Head of Digital Business for Singapore and Malaysia.
Sopnendu Mohanty, Chief FinTech Officer, Monetary Authority of Singapore (MAS), added, “MAS has been working closely with the financial industry to foster adoption of foundational digital infrastructures such as national digital identity for seamless integration with the growing digital economy. We are delighted that OCBC Bank has broken new ground by enabling access to financial services with SingPass Mobile."